HS: Finnish young people invest more than ever before, even more than Swedes

HS: Finnish young people invest more than ever before, even more than Swedes

According to the magazine, young Finns are therefore more active investors than their Swedish peers.

Lasse CorinAktia’s Chief Economist, estimates that the increase in the number of young people investing suggests that investments in improving people’s financial skills and competence are bearing fruit.

“Young people clearly understand the importance and possibilities of investing as part of comprehensive financial management,” he commented to the daily at the end of February.

According to Corin, one factor that has influenced the development has been the appearance of services such as investment apps, which have made investing easier for ordinary people to reach. He also believes that social media and social media culture have encouraged young people to invest through, among other things, numerous investment-focused online groups and communities that have emerged in the past decade.

“Mimmit the investor [a media focusing on discussions on investment, money and saving] comes to mind first. I think it’s a good example of how awareness about investing has increased and how information has been shared,” said Corin.

The development also contains risks, he added, because discussions on social media can focus too much on successes and describe investing too optimistically.

The attractiveness and reputation of investing has improved in recent years also when, for example, environmental responsibility aspects have shifted the focus of investment discussions away from purely profit.

“I think it’s been at least kind of a threshold issue for some,” he said.

Investment statistics show that the proportion of young people investing in mutual funds or listed companies has risen gradually since 2013, before jumping by 3.4 percentage points in 2020 and another 4.5 percentage points in 2021. New small investors have since also faced the negative side of investing, such as share prices around the world fell last year due to pandemic-related restrictions and Russia’s war of aggression in Ukraine.

“It’s good that people invest and make an effort. You should remember that it is a very long-term activity. You can do well for a couple of years and then have a down year. The worse years are part of it, Corin said.

He hoped that young people who have been interested in investing in recent years will not stop because of the uncertain market situation.

“I’m a little afraid that the current unstable situation in the market may dampen investment interest, although I don’t think it should,” Corin commented to Helsingin Sanomat.

Aleksi Teivainen – HT

Source: The Nordic Page

Related Posts: